Robert Kiyosaki
The author of many best selling books, the most popular of which is entitled “rich dad poor dad”. In this book he chronicles his financial education from his well educated biological father, who was the poor dad in this scenario even though he made a very good living.
And his poor “dad” who was actually the father of one of Robert’s friend. His poor dad didn’t have a college eduction and had what many would consider “unusual” thoughts about money and wealth.
Robert Kiyosaki is well known for his expertise in real estate investing. He has taught educational seminars around the world. He has created multiple products and writen many books on various aspects of investing.
He is a huge proponent of creating better financial education right in the schools. He is very concerned about the lack of financial education most people in this country have… or don’t have.
In his books he talks about the foolishness of turning your money over to a financial “professional” and basically hope for the best.
He advises that everyone gets at least a little bit of knowlege when it comes to investing their money. Unlike what we are often told, Robert decries the “tradional” ways of thinking about assests.
He will be the first one to tell you that for most people their home really is not an assest (though if it is totally paid off it can be).
Many people consider any possession an assest but Robert teaches that if you can’t liquidate that “assest” than it can be more of a liability.
Robert Kiyosaki is one of the first people to point out the flawed logic that tells us that having a job and working for someone else provides us with security whereas starting a buisness and / or investing is risky.
Today, the economic meltdown definitely seems to be verifying this outlook. Many people who had good jobs have suddenly found themselves out of work.
He teaches his students the importance of education in all aspects of financial transactions. Whether you choose to get involved in investing stocks and bonds or investing in real estate.
He teaches people that you will actually lose money if you invest in a traaditional savings account. The theory is that a traditional account will not yield nearly as much as other forms of investing.
He cautions about letting fear dictate what you do financially. A little knowledge can go a long way and it will enable you to get the most out of all your investments.
I actually saw this theory played out in real life. A dear frind of mine had all her money invested and being overseen by a financial adviser.
The problem was that the adviser didn’t really have that much expertise or knowledge. During the recent tumultous stock market ride, the adviser left all my friends money invested in the market rather than rearranging her investments to minimize her risk during this volatile time, just like Robert recommends.
When the dust finally cleared, my firends portfolio had been decimated. A little knowledge and she could have worked in partnership with her adviser (or maybe on her own) but instead she just handed all her money over and hoped for the best.
I have read many of Roberts books and I love his view on money and investing. I personally think everyone can learn a lot from him.
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